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The cryptocurrency market is showing signs of recovery after the sharp decline
Compared to yesterday, Bitcoin (BTC) rose by almost 5%, bouncing from its annual low to $ 3,195, reached Saturday 15 December. At the time of writing, BTC was trading at $ 3,429, with a 24-hour trading volume. $ 4,225,828.550
Ethereum has increased by almost 4% compared to yesterday. At the time of writing, ETH was trading at $ 90.40, after falling just $ 83 on Saturday. The 24-hour trading volume was at $ 1,675,599,698.
Ripple (XRP) followed the same route, trading at $ 0.30 (+ 3.6%) after only touching $ 0.28 on Saturday. The 24-hour trading volume, however, was only $ 378.532.220. However, the capitalization of Ripple is still $ 3.01 billion compared to that of Ethereum.
Tether (USTD ) briefly in the Top 4
Stellar temporarily lost the 4th place in the cryptocurrency ranking at Tether (USTD), dropping another 2%. This was a clear sign that investors were playing on the safe side. However, only a few hours ago, Stellar regained the 4th place in the standings, with EOS getting the number 5. Tether is currently only ranked 6th. Stablecoin lost $ 13 million in market capitalization in less than 2 hours.
The total value of the cryptocurrency market is currently slightly above $ 109 billion. At the end of Saturday, the market fell to its lowest level in 2018, to just over $ 100 billion. The BTC domain continues to consistently at 54.9%.
Cambridge studio: Bitcoin all but dead
According to a new study by the University of Cambridge, Bitcoin is far from being dead. The researchers found that "millions of new users have entered the ecosystem, but most remain passive". The study states that user accounts of "service providers" already exceed 139 million. However, they consider only 38% of "active users".
Another fundamental fact was that most mining companies use some form of renewable energy for their activities. According to the study, the 6 main trials of cryptocurrency work
"They collectively consume between 52 and 111 TWh of electricity in the year …. the equivalent of the total energy consumed by the entire country of Belgium, but also less than 0.01% of production world energy market in the year. "
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